Wall Street Zen Upgrades Digital Turbine (NASDAQ:APPS) to Strong-Buy

Digital Turbine (NASDAQ:APPS) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Several other analysts have also recently commented on APPS. Weiss Ratings cut shares of Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Zacks Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 28th. Finally, Bank of America upgraded shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.75.

Digital Turbine Price Performance

Shares of NASDAQ:APPS opened at $8.34 on Friday. The company’s fifty day moving average is $8.59 and its two-hundred day moving average is $5.66. The company has a market cap of $1.01 billion, a P/E ratio of -23.17, a price-to-earnings-growth ratio of 0.65 and a beta of 2.75. Digital Turbine has a 12-month low of $2.74 and a 12-month high of $13.60. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, May 26th. The software maker reported $0.16 EPS for the quarter, topping the consensus estimate of $0.09 by $0.07. The business had revenue of $142.55 million during the quarter, compared to analysts’ expectations of $133.22 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. Equities analysts expect that Digital Turbine will post 0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Digital Turbine by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 9,101,779 shares of the software maker’s stock valued at $45,509,000 after buying an additional 29,540 shares in the last quarter. Granahan Investment Management LLC raised its position in Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock valued at $20,484,000 after acquiring an additional 762,888 shares in the last quarter. AIGH Capital Management LLC bought a new position in Digital Turbine during the first quarter valued at approximately $14,100,000. Bank of America Corp DE lifted its stake in Digital Turbine by 17.4% in the first quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock valued at $10,423,000 after acquiring an additional 535,169 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Digital Turbine by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 2,528,772 shares of the software maker’s stock valued at $12,646,000 after acquiring an additional 110,871 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors and hedge funds.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.